4TH Quarter

EXAMINATION
Dumaguete Campus
2nd Semester
S.Y. 2020-2021
Senior High School Department

Bookkeeping
GENERAL INSTRUCTIONS:
 Avoid unnecessary ERASURES.
 Use BLACK or BLUE inked pen(ballpen)ONLY.
 Write your answers on your test booklet.

Instruction:
1. Journalize the transaction with notes.
2. Post the entries to the proper ledger accounts.
3. Prepare an unadjusted trial balance.
4. Prepare an income statement, statement of changes in equity, balance sheet and statement of
cash flows.
5. Prepare closing entries.
6. Prepare post-closing trial balance.

CHART OF ACCOUNTS
110 Cash 410 Sales
112 Accounts Receivable 411 Sales Return and Allowances
115 Merchandise Inventory 412 Sales Discount
117 Supplies 510 Cost of Goods Sold
123 Equipment 511 Freight Out
210 Accounts payable 520 Salaries Expense
220 Notes Payable 521 Advertising Expense
310 D. Martinez, Capital 522 Utilities Expense
311 D. Martinez, Drawing 523 Rent Expense
312 Income Summary

CHART OF ACCOUNTS FOR PREPARING FINANCIAL STATEMENTS

110 Cash and Cash Equivalents

112 Receivables
115 Inventories
117 Prepaid Expenses
123 Property Plant and Equipment

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Prepared by: Angel V. Rodriguez, LPT
 4TH Quarter
EXAMINATION
Dumaguete Campus
2nd Semester
S.Y. 2020-2021
Senior High School Department

Bookkeeping

Date
Nov 2020 Transactions
1 Desmond Martinez, the owner invested P830,000 to the business.
2 Bought equipment for P220,000.
2 Bought merchandise on account from String Company, P340,200 terms 2/10, n/30
3 Bought office supplies for cash P1,520.
4 Sold merchandise on account P311,000 FOB Destination, terms 2/10, n/30. The cost of
merchandise sold was P214,000
5 Paid P540 freight on the sale Nov. 4
6 Received credit from String Company for merchandise returned due to improper size
P700.
11 Paid String Company
13 Collected from November 4 customer
14 Bought merchandise for cash P49,500
15 Paid salaries of the staffs P5,000
16 Borrowed money from the bank. Signed a promissory note for P55,500 pesos.
17 Received a refund from a supplier on cash purchase of November 14 P1,580.
18 Bought merchandise from AJ Company P89,650 FOB Shipping Point, Terms 2/10, n/30.
20 Paid freight from the purchased goods on November 18, P1,450.
23 Sold merchandise for P410,250. The cost of goods sold was P260,650.
26 Bought merchandise for cash P28,400
27 Paid AJ Company P30,800. No discount for partial payments.
28 Desmond Martinez, the owner got P4,520 cash from the business.
29 Made refund to cash customers for defective merchandise, P2,550.
30 Sold merchandise on account, P35,400 n/30. The cost of merchandise sold was P23,000.
30 Paid the following: Advertising P2,200; Utilities P1,050; Rent P15,000; Salaries P5,000.

2
Prepared by: Angel V. Rodriguez, LPT